Canadian Imperial Bank of Commerce (TSE:CM) Releases Quarterly Earnings Results

Canadian Imperial Bank of Commerce (TSE:CM) (NYSE:CM) released its earnings results on Thursday. The company reported C$2.54 earnings per share (EPS) for the quarter, FiscalAI reports. Canadian Imperial Bank of Commerce had a net margin of 18.44% and a return on equity of 15.24%. The business had revenue of C$8.01 billion for the quarter.

Canadian Imperial Bank of Commerce Trading Down 0.3%

Shares of TSE:CM opened at C$150.49 on Friday. The firm has a market cap of C$138.50 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 3.03 and a beta of 1.30. The company has a fifty day simple moving average of C$145.78 and a 200 day simple moving average of C$134.16. Canadian Imperial Bank of Commerce has a 12-month low of C$91.94 and a 12-month high of C$162.12.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, April 28th were paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, March 27th. Canadian Imperial Bank of Commerce’s payout ratio is 41.50%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CM shares. BMO Capital Markets raised their target price on shares of Canadian Imperial Bank of Commerce from C$135.00 to C$150.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Royal Bank Of Canada decreased their target price on shares of Canadian Imperial Bank of Commerce from C$158.00 to C$147.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. Desjardins raised their target price on shares of Canadian Imperial Bank of Commerce from C$152.00 to C$160.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Barclays lifted their price target on shares of Canadian Imperial Bank of Commerce from C$137.00 to C$141.00 in a research report on Monday, March 2nd. Finally, Canaccord Genuity Group lifted their price target on shares of Canadian Imperial Bank of Commerce from C$153.00 to C$158.00 and gave the company a “hold” rating in a research report on Friday. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has an average rating of “Moderate Buy” and a consensus target price of C$152.86.

Canadian Imperial Bank of Commerce Company Profile

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, in the United States and around the world.